Patents run into problems when they're either overly-broad or insufficiently novel. You'd have to dig into the claims of this one, to see if it meets either criteria.
The upside of patents is that they allow a company to invest significant amounts of money in R&D, without having to worry about a discount competitor ripping off all their hard work. The other benefit is that it forces companies to share how their product works, so that the techniques can eventually be used by anyone.
A world with
no patents would have less innovation. That said, the existing patent system still needs improvement.
grimfox :
I don't like this patent. There is no way a medical company is going to share or license the patent without a medical grade price.
I disagree with that. If they aren't stupid, they'll be able to understand the market dynamics of the target product and work out a licensing model that would maximize their revenue.
Of course, if they're a troll, they'll use tactics more akin to extortion and try to push startups like Fove to the verge of bankruptcy.